Key Characteristics & Buyer Profile

This property at 540 Greenwood Place offers an unusually large living space relative to its price point. With 2,344 square feet, it ranks in the top 3% on its street, top 7% in the Wolseley neighbourhood, and top 4% city-wide in Winnipeg for size. Despite that, its assessed value sits very close to the average for the street, neighbourhood, and the city as a whole. The land is generous for the area, ranking in the top 12% within Wolseley.

The appeal here is square footage that punches well above its price—space you’d typically pay a premium for elsewhere. The trade-off is the construction year: 1910. It’s an old house, ranking in the bottom 10% on the street and bottom 6% city-wide for age. That means character, but also likely maintenance quirks and older systems.

This property suits buyers who value interior space above all else and are comfortable with an older home’s realities. It’s a strong fit for someone who wants more room than the market usually offers at this budget—families needing space, or someone who appreciates heritage character and is prepared to invest in upkeep. It would be a weaker fit for buyers seeking a modern, move-in-ready home with low maintenance.

Five Possible FAQs

1. The house was built in 1910. What should I expect from a home of this age?
You can expect thick plaster walls, likely original hardwood floors, and definite character details. You should also budget for ongoing maintenance: older electrical, plumbing, and insulation standards. It’s not uncommon for these homes to need updates to meet modern efficiency or safety expectations. A thorough inspection is essential.

2. Why is the assessed value so average when the house is much larger than most?
Assessed value considers more than just square footage—it factors in condition, age, location, and recent sales of comparable properties. A 1910 home, even if spacious, may not command as high a value as a newer or fully renovated home of similar size. In this case, you’re getting size without the premium price tag.

3. How does the land size compare to other properties in Wolseley?
The lot is 4,254 sqft, which is above average for Wolseley as a whole—ranking in the top 12% of the neighbourhood. That said, it’s slightly below the average for this specific street. So you get a good-sized yard by local standards, but not an exceptionally deep or wide one compared to immediate neighbours.

4. What does “排名” mean in the context of this property’s data?
It’s a ranking system comparing this home to others within the same street, neighbourhood, and city. For metrics like living area or land size, a higher rank (lower number) means the property is larger than most. For assessed value, a higher rank means a higher valuation. For construction year, higher means newer. So a rank of 7 out of 220 on living area is excellent—this is one of the biggest homes on the street.

5. Is this property a good investment given its age and average assessment?
That depends on your goals. The home offers strong value in terms of space-per-dollar, which can be appealing if you’re planning to live in it long-term or renovate gradually. Older homes in established neighbourhoods like Wolseley often hold their value, but they don’t always appreciate as quickly as newer builds in growing areas. The lower assessment also keeps property taxes in check relative to the size. If you’re looking for a quick resale profit, this may not be the best fit. For a spacious family home with character at a reasonable tax rate, it’s worth a close look.